Snap (NYSE:SNAP) Price Target Lowered to $6.00 at JPMorgan Chase & Co.

Snap (NYSE:SNAP) had its target price reduced by analysts at JPMorgan Chase & Co. from $7.00 to $6.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.59% from the stock’s current price.

SNAP has been the subject of a number of other reports. TD Cowen began coverage on Snap in a research report on Monday, April 27th. They issued a “buy” rating for the company. Stifel Nicolaus boosted their target price on Snap from $4.50 to $5.25 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Rothschild & Co Redburn raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, April 27th. Morgan Stanley decreased their target price on Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a research report on Sunday, February 22nd. Finally, Citigroup boosted their target price on Snap from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $7.91.

Snap Trading Down 2.4%

Shares of SNAP stock traded down $0.15 during mid-day trading on Thursday, hitting $5.97. The company’s stock had a trading volume of 87,284,199 shares, compared to its average volume of 53,486,016. The company’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $6.59. Snap has a 52 week low of $3.81 and a 52 week high of $10.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The company has a market cap of $10.07 billion, a PE ratio of -22.09 and a beta of 1.05.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted ($0.08) earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that Snap will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total value of $5,360,000.00. Following the transaction, the chief technology officer owned 49,313,775 shares in the company, valued at $264,321,834. The trade was a 1.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajit Mohan sold 119,339 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $560,893.30. Following the completion of the transaction, the insider owned 5,158,477 shares in the company, valued at $24,244,841.90. The trade was a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,565,573 shares of company stock worth $13,329,781. 22.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the period. Arax Advisory Partners increased its holdings in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after purchasing an additional 2,275 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Snap in the fourth quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Snap in the third quarter worth $33,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

More Snap News

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Q1 operational beat — Revenue rose ~12% year?over?year and adjusted EBITDA more than doubled, with daily active users returning to growth outside NA/Europe; this supports near?term ad recovery and margin improvement. SNAP Q1 Revenues & EBITDA
• Positive Sentiment: Analyst upgrade/raise — Wells Fargo nudged its price target up from $6 to $7 (equal weight), signaling some analyst conviction that recent operational momentum has value. Wells Fargo PT Raise
• Neutral Sentiment: Elevated options activity — Unusually large call buying was reported around the print, indicating speculative interest or hedging that can increase intraday volatility but not necessarily change fundamentals.
• Neutral Sentiment: Third?party tie?ups may help AR long term — Coverage noted Qualcomm stock strength on an AR partnership; this partnership is a potential medium?term positive for Snap’s AR monetization but is not an immediate revenue driver. Qualcomm / Snap AR
• Negative Sentiment: Perplexity deal cancelled — Snap said its previously announced ~$400M AI integration with Perplexity was “amicably ended,” removing a near?term AI revenue or product catalyst and raising questions about AI strategy execution. Perplexity Deal Ended
• Negative Sentiment: Cautious guidance and investor reaction — Management issued cautious Q2 revenue assumptions (explicitly excluding Perplexity), and coverage highlights guidance disappointment; that forward uncertainty is pressuring the stock. Guidance Disappoints
• Negative Sentiment: Legal & governance overhangs — Pomerantz announced an investor investigation and Randian Capital’s activist push is public, adding regulatory/legal risk and governance uncertainty that can weigh on the multiple. Pomerantz Investigation
• Negative Sentiment: RBC cut price target — Royal Bank of Canada lowered its PT from $10 to $8 and moved to “sector perform,” trimming upside expectations and signaling less bullishness from a major desk. RBC PT Cut

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.